Ethereum / TetherUS
Long
Updated

ETH - 5500 USD in the short-term (Banks and states buying!)

9 889
ETH is pumping, and altcoins with it. That means we are in an alt season, which I predicted in the previous post here on July 9, before the pump:
Bitcoin - Ready for a new all time high! + ALT SEASON starting
ETH is part of the USA crypto reserve, and banks also love this altcoin. The ETH ETF was launched, and the big players already count this coin as the future of the crypto industry. So if you are a Bitcoin maximalist, you have to convince the rulers of this world to stop buying ETH.

But we are here to make money; we don't care about the crypto technology, which is too restricting anyways. Worse than paper money or fiat or gold. Let's be honest, if there were no charts and no trading on cryptocurrency, no one would even talk about it, and the government would silently integrate this technology.

So I am very bullish on ETH in the short term, because the price is inside this ascending channel and is breaking out with strong bullish momentum. Of course you don't want to buy the top and sell the low. We are somewhere in the middle, so if you buy now, sell at 5500 USDT. This is where the market will most likely stop for a long time before going higher.

We are in an alt season because BTC.D is going down! That means some altcoins can 10x or 50x in the next weeks. This is very important - Write a comment with your altcoin + hit the like button, and I will make an analysis for you in response. Trading is not hard if you have a good coach! This is not a trade setup, as there is no stop-loss or profit target. I share my trades privately. Thank you, and I wish you successful trades!
Trade active
The uptrend is extremely strong, and it looks like there will be no stop and no opportunity to buy cheap ETH in this particular pump. So your limit orders may never be filled. But I recommend trading ETH on an intraday basis with long-only strategies. Seasonality is also favoring ETH - statistically ETH is going up from mid-July to mid-August.
snapshot
Order cancelled
If you sold during this small downtrend, it's probably a mistake. This is a great opportunity to buy ETH and cheap altcoins! I am indeed bullish and 1-2 bearish days are very healthy.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.